The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-04-16
the MIDLAND RAILROAD.
A "TAXPAYER'S" REASONS FOE
OPPOSING A SUBSCRIPTION
By Shelby 0OuntJ-A Communica.
tion Fall or Serious Facts
and Figures.

The Signature OF Merchant" This |
9 correspondent starts out by saying |
Il at not one man in ten in the city or |
county understands the situation In |
regard to the enterprise. This ia GER
tainly q curious statement to make. II |
Is not only q charge Of wholesale IL.
norsnce, IL is also an intimation that
there 10 something about the project
which eludes the intelligence OF The
average man. II the people do not
understand the question, surely the
public speeches aud the various com.
in the newspapers can
have created no impression. IL
Ia because the people do understand
the scheme that they are op.
posed to the subscription. There
Is nothing very absiruse about the
matter. This promoters OF the Ten
nessee Midland want 100000 fiom
Shelby county because, as they say, it
is TO be road that will peculiarly
benefit Memphis aud Tennessee. II
is to open up wonderland, 80 to speak.
There il nothing new abont the Ian
guRgs Of these claims. In fact they
have been advanced ia behalf OF every
railroad that has ever been built to
Memphis. But there is a stIa aye in
consistency in the attitude OF those
who are trying to secure the subscrp-
ton. Ia one breath they tell us that
the road would be OF such incalculable
benefit that we ought not 10 hesitate
to subscribe, and they confess in the
next that foreign capitalists will not
invest unless the counties subscribe a
sum variously estimated at from ST.
100000 to $4,000, 600, This very fact in
dicates either that the capitalists have
not complete confidence in the enter
prise, or that they would be very glad
TO take charge Of road that had been
largely paid for by other parties.
Merchant" seems to think there is
great virtue In the statement that sub.
scriptions cannot become due until the
road is constructed. AS "a matter OF fact
they will become due and the money
will be paid and the people Of Tennessee
will bs paying taxes on road which
will be under the control Of foreign cap
tablets. II the latter will not invest their
money unlets the counties subscribs 1t
may be taken as pretty conclusive
proof that the enterprise would not
pay. The threat-for 1t can be called
nothing else-that the road will
not be quilt unless Shelby county SUBJ
scribes 100000, ought to have no in.
huenoe with the members OF the
County COURT in deciding question
OF principle. Merchant" seems to
have Uncovered new arithmetic
somewhere In the bright vistas
OF his imagination. He says 1t
is fair to assume that the
Tennessee Midland will be assessed as
much per mile as the Memphis and
Charleston road, in short, at $4,000
per mile. Now why should he choose
the road which Is assessed at the very
highest figure. The average valuation
per mile Of the roads in Shelby county
Is $l2,2l6, and 1t would eeem more
reasonable to expect that the Midland
being Tennessee road would be as
sessed rs low as poss BILE. Merchants"
next assumption is that the city prop.
erty OF the road would be assessed at
least at 100000. All the city
property of the several roads now
running into Memphis is only
assessed at about $2S5,000, or an
average oil $S3 900. Another curious
arithmetical freak on the part oil
Merchant" is the statement that the
Louisville aud Nashville road is rs
sesssd at over $4,000 per mile. The
County Trustees hooks show that this
track OF the Louisville and Nashville
railroad in Shelby county is valued a.
$685., 1927, and there are twenty-six anC
one.hslf miles OF it, Now, II a divis
ion according TO the rules OF regular
arithmetic, such as Is not used IL
booming railroad schemes, is made tn,
valuation per mile Of, the Louisville
aud Nashville will be found Ia b,
about $l3, 800. II will be seen from
this that Merchant" Is very liberia
with his iigures, aud does not min'
watering his estimates. His assertion
that the Midland road would pay tn,
county 1887 90 on ita twenty.hv
miles Of track, when all the roads Il
the county only pay $l4 ,924.4l, ma
be stated for what 1t ls worth, and
any sane mau can be induced TO be
lievs that Shelby county would &c
that amount from the new road, he
certainly entitled to rank rs a discoN
erer. 1t has been said by the pre-
moters OF the scheme, with thai fori
use Of arithmetic for which they ar
noted, that the road will cost $1,000
G333, and Tia. .se 60 GO eo
subscriptions are mere dro
in the bucket. This woul
make the aver age cost per mile {
the 500 miles in Tennessee 1000,
preposterons figure. Here in Shoib
county the twenty-five miles could b
constructed easily at SIS, 900 a mile, {
$4,000. Now, for the county TO sui
scribe $500, 900, or about one half To
, cost OF building the road, gives us a
idea OF the kind of drop In the bucl
ct" which some OF the subscription
will constitute. But there is no nee
TO go any deeper into the figures {
the question. The principle of th
thing Is wrong. The Midland road va
, originated by gentlemen bey ond tn
State who, as Merchant" says, do nj
own an acre OF land in Tennessee.
is practically private money maxim
scheme, aud there is no more reaso
why the ceunty should help to bull
1t than there ia why IL should issu
bonds to enable Capt Jim Lee
build another steamboat II Oh
county should saction such thin
see no reason why
should not go into the cotton seed o
business or run newspaper, / nndel
! stsnd that the members OF the Count
Court are solid against it, and in TIL
they have the cordial support Of nea
: y all the people who pay taxes.
hope they will not be persuaded tbs
1t is one Of the functions of govern
. ment 70 help build railroads for ioreig
or home capitalists, who do or do nc
own an acre Of land In the State. Th
taxes are heavy enough now, and "
are pulling out Of our adversely.
would not be we'll TO court Il again b
imposing q railroad tax on the peopl,
TAXPAYER.
A Fire Destroys q PIaning Mill an
"a q